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{{short description|Chinese shipping company}}
{{short description|Chinese shipping company}}
{{distinguish|COSCO Shipping Development}}
{{Infobox company
{{Infobox company
| name = COSCO SHIPPING Energy Transportation Co., Ltd.
| name = China Shipping Development Company Limited <br /> 中海发展股份有限公司
| logo = Chinashippingdevelopment.png
| logo = COSCOCS-ver1.svg
| type = [[State-owned enterprise]]
| type = [[public company|public]]
|traded_as = {{hkex|1138}}<br/>{{sse|600026}}
| genre =
| foundation = 1994
| foundation = 1994
| former_name = {{bulleted list|Shanghai Haixing Shipping Co., Ltd.|China Shipping Development Co., Ltd.}}
| founder =
| founder =
| location_city = [[Shanghai]]
| location_city = Shanghai
| location_country = [[People's Republic of China]]
| location_country = China
| location =
| location =
| origins =
| origins =
| key_people = [[Chairman]]: Mr. Li Shaode
| key_people = [[Chairman]]: Mr. Liu Hanbo
| area_served = [[People's Republic of China]]
| area_served = Worldwide
| industry = [[Shipping]] and [[Logistics]]
| industry = [[Bulk carrier|Shipping]]
| products =
| products = [[Oil tanker|Oil shipping]]
| services =
| services =
| revenue =
| revenue =
Line 23: Line 25:
| divisions =
| divisions =
| subsid =
| subsid =
| owner = [[COSCO Shipping]] (via [[China Shipping Group]])
| owner =
| homepage = {{URL|http://en.energy.coscoshipping.com}}
| company_slogan =
| module = {{Infobox Chinese|child=yes|order=st|s=中远海运能源运输股份有限公司|t=中遠海運能源運輸股份有限公司|p=Zhōngyuǎn hǎiyùn néngyuán yùnshū gǔfèn yǒuxiàn gōngsī|altname=former name|s2=中海发展股份有限公司|t2=中海發展股份有限公司|p2=Zhōnghǎi fāzhǎn gǔfèn yǒuxiàn gōngsī|altname3=short name|s3=中远海能|t3=中遠海能|p3=Zhōng-yuǎn hǎi-néng |altname4=former short name|s4=中海发展|t4=中海發展|p4=Zhōnghǎi fāzhǎn|showflag=p}}
| homepage =[http://www.cnshippingdev.com/ China Shipping Development Company Limited]
}}
}}
'''COSCO Shipping Energy Transportation Co., Ltd.''', stylized as '''COSCO SHIPPING Energy''', is a Chinese [[oil tanker]] shipping company with its [[headquarters]] in [[Hongkou District]], Shanghai. The company transports crude oil, [[LNG carrier|LNG]], and [[LPG carrier|LPG]]. It is a subsidiary of [[COSCO Shipping]]. It is the world's largest oil tanker shipping company in terms of fleet capacity.


==History==
'''China Shipping Development''' ({{hkex|1138}}, {{sse|600026}}) is a Chinese [[shipping]] company with its [[headquarters]] in [[Shanghai]]. The company is listed on the [[Shanghai Stock Exchange]] and the [[Hong Kong Stock Exchange]].
The company was established by Shanghai Shipping Group as Shanghai Haixing Shipping Co., Ltd in May 1994. Haixing Shipping issued 1.08 billion H shares and was listed on the [[Stock Exchange of Hong Kong]] (SEHK) in November 1994. It quickly became the largest carrier of coal and crude in East China.<ref name="COSCO" />


On July 1, 1997, [[China Shipping Group]] was founded in Shanghai to hold all the shares of Haixing Shipping's parent, Shanghai Shipping Group, along with the shares of Guangzhou Shipping Group and Dalian Shipping Group. On July 18, 1997, China Shipping agreed to acquire all the "legal person shares" ({{zh|s=法人股}}; Chinese regulatory terminology) of Haixing Shipping from Shanghai Shipping Group. As a result, China Shipping Group became the controlling shareholder of Haixing Shipping. In December 1997, Haixing Shipping changed its name to China Shipping Development Co. Ltd.<ref name="COSCO" />
The company produces, pursues and sells as a shipping company ships worldwide. [[China Shipping Group Company]], founded on the 1 July 1997, is the holding company of China Shipping Development. Entity in Hong Kong entity was founded in 2001<ref>{{Cite web|url=https://www.bloomberg.com/tosv2.html?vid=&uuid=2b54ade0-644d-11e9-b4e4-89003a04313e&url=L3Jlc2VhcmNoL3N0b2Nrcy9wcml2YXRlL3NuYXBzaG90LmFzcD9wcml2Y2FwSWQ9MzEyNTAwMjQ=|title=Bloomberg - Are you a robot?|website=www.bloomberg.com|access-date=2019-04-21}}</ref>. Among the rest, the companies [[China Shipping Container Lines]] and China Shipping Haisheng also belong to the Parent company. The main business focus of the company involves coastal, ocean and Yangtze River cargo transportation, ship leasing, cargo forwarding and cargo transport agency, purchase and sale of ships, repair and development of containers, ship spare parts purchase and sale agency, consultancy and transfer of shipping technology.<ref>{{cite web |url= http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=600026:CH |title=CHINA SHIPPING DEVELOPMENT-A (600026:Shanghai): Company Description - Businessweek |work=investing.businessweek.com|accessdate=12 October 2012}}</ref>


The main business focus of China Shipping Development was bulk cargo shipping, specifically oil shipping. In 2006, the company acquired 42 bulk carrier ships and became one of the largest oil shipping companies in the Far East. In 2007, the company ordered 16 [[Bulk carrier|VLOC]] ships to transport iron ore imports. In 2009, China Shipping Development acquired China Shipping LNG Investment Company Limited from China Shipping Group. Then, China Shipping Development along with [[Mitsui O.S.K. Lines|MOL]] established joint ventures with [[Sinopec]] and [[PetroChina]] to transport LNG. The joint venture companies ordered a total of 10 [[LNG carrier|LNG vessels]] in July 2011 and April 2013, of which 6 vessels are owned by China Shipping Development.<ref>{{cite web |url=https://www.offshore-energy.biz/sinopec-china-shipping-mol-jv-orders-six-lng-carriers/ |title=Sinopec, China Shipping, MOL JV Orders Six LNG Carriers |author=<!--Not stated--> |date=April 29, 2013 |website=Offshore Energy |publisher= |access-date=December 4, 2020 |quote=}}</ref><ref>{{cite web |url=https://www.bloomberg.com/news/articles/2013-03-20/china-shipping-venture-to-order-six-lng-ships-for-1-2-billion |title=China Shipping Venture to Order Six LNG Ships for $1.2 Billion |last1=Wang |first1=Jasmine |last2=Guo| first2=Aibing |date=March 20, 2013 |website=[[Bloomberg News|Bloomberg]] |publisher= |access-date=December 4, 2020 |quote=}}</ref><ref name="COSCO" />
<br />

In August 2012, China Shipping Development established a subsidiary, China Shipping Bulk Carrier Company Limited, to handle all its dry bulk business.<ref name="COSCO" />

In 2016, China Shipping Development's parent company, China Shipping Group, completed a merger with COSCO Group. As part of the merger China Shipping Development sold 100% equity interest of its subsidiary China Shipping Bulk Carrier Co. to the newly formed China COSCO Bulk Shipping Co. Meanwhile, China Shipping Development acquired 100% equity interest of tanker shipping company Dalian Ocean Shipping Co. from COSCO Group. As a result, China Shipping Development was renamed to COSCO SHIPPING Energy Transportation, and became focused solely on oil and LNG shipping.<ref>{{cite web |url=https://www.seatrade-maritime.com/asia/china-shipping-development-proposes-name-change-appoints-new-chairman |title=China Shipping Development proposes name change, appoints new chairman |last=Hong Liang |first=Lee |date=June 6, 2016 |website=Seatrade Maritime News |publisher= |access-date=December 4, 2020 |quote=}}</ref><ref name="COSCO">{{cite web |url=http://en.energy.coscoshipping.com/col/col1431/index.html |title=COSCO SHIPPING Energy, About Us, History Review |author=<!--Not stated--> |date= |website= |publisher= |access-date=December 4, 2020 |quote=}}</ref>

COSCO SHIPPING Energy became the world's largest oil tanker fleet, with 105 oil tanker ships totaling 17.04 million [[Deadweight tonnage|DWT]].<ref>{{cite web |url=https://www.marinelink.com/news/launches-largest-worlds410761 |title=COSCO Launches World's Largest Oil Tanker Fleet |last= Lakshmi |first=Aiswarya |date=June 7, 2016 |website=MarineLink |publisher= |access-date=December 4, 2020 |quote=}}</ref>


==See also==
==See also==
Line 41: Line 51:


==External links==
==External links==
* {{official website|http://en.energy.coscoshipping.com}}
*[https://web.archive.org/web/20071110165346/http://www.cnshippingdev.com/ China Shipping Development Company Limited]


{{China logistics}}
{{China logistics}}
{{Shipping companies of China}}
{{Shipping companies of China}}

{{authority control}}


[[Category:Companies formerly in the Hang Seng China Enterprises Index]]
[[Category:Companies formerly in the Hang Seng China Enterprises Index]]
[[Category:Companies listed on the Hong Kong Stock Exchange]]
[[Category:Companies listed on the Hong Kong Stock Exchange]]
[[Category:Companies listed on the Shanghai Stock Exchange]]
[[Category:Companies listed on the Shanghai Stock Exchange]]
[[Category:Companies established in 1994]]
[[Category:American companies established in 1994]]
[[Category:Shipping companies of China]]
[[Category:Shipping companies of China]]
[[Category:China Shipping Group]]
[[Category:COSCO Shipping]]
[[Category:Logistics companies of China]]
[[Category:Logistics companies of China]]
[[Category:Government-owned companies of China]]
[[Category:Government-owned companies of China]]
[[Category:Companies based in Shanghai]]
[[Category:Companies based in Shanghai]]
[[Category:Transport companies of China]]
[[Category:Transport companies of China]]
[[Category:H shares]]
[[Category:1994 in Shanghai]]

Latest revision as of 06:14, 16 July 2024

Not to be confused with COSCO Shipping Development.
COSCO SHIPPING Energy Transportation Co., Ltd.
Formerly
  • Shanghai Haixing Shipping Co., Ltd.
  • China Shipping Development Co., Ltd.
Company typepublic
SEHK: 1138
SSE: 600026
IndustryShipping
Founded1994
Headquarters
Shanghai
,
China
Area served
Worldwide
Key people
Chairman: Mr. Liu Hanbo
ProductsOil shipping
OwnerCOSCO Shipping (via China Shipping Group)
ParentChina Shipping Group
Chinese name
Simplified Chinese中远海运能源运输股份有限公司
Traditional Chinese中遠海運能源運輸股份有限公司
Hanyu PinyinZhōngyuǎn hǎiyùn néngyuán yùnshū gǔfèn yǒuxiàn gōngsī
Transcriptions
Standard Mandarin
Hanyu PinyinZhōngyuǎn hǎiyùn néngyuán yùnshū gǔfèn yǒuxiàn gōngsī
former name
Simplified Chinese中海发展股份有限公司
Traditional Chinese中海發展股份有限公司
Hanyu PinyinZhōnghǎi fāzhǎn gǔfèn yǒuxiàn gōngsī
Transcriptions
Standard Mandarin
Hanyu PinyinZhōnghǎi fāzhǎn gǔfèn yǒuxiàn gōngsī
short name
Simplified Chinese中远海能
Traditional Chinese中遠海能
Hanyu PinyinZhōng-yuǎn hǎi-néng
Transcriptions
Standard Mandarin
Hanyu PinyinZhōng-yuǎn hǎi-néng
former short name
Simplified Chinese中海发展
Traditional Chinese中海發展
Hanyu PinyinZhōnghǎi fāzhǎn
Transcriptions
Standard Mandarin
Hanyu PinyinZhōnghǎi fāzhǎn
Websiteen.energy.coscoshipping.com

COSCO Shipping Energy Transportation Co., Ltd., stylized as COSCO SHIPPING Energy, is a Chinese oil tanker shipping company with its headquarters in Hongkou District, Shanghai. The company transports crude oil, LNG, and LPG. It is a subsidiary of COSCO Shipping. It is the world's largest oil tanker shipping company in terms of fleet capacity.

History

[edit]

The company was established by Shanghai Shipping Group as Shanghai Haixing Shipping Co., Ltd in May 1994. Haixing Shipping issued 1.08 billion H shares and was listed on the Stock Exchange of Hong Kong (SEHK) in November 1994. It quickly became the largest carrier of coal and crude in East China.[1]

On July 1, 1997, China Shipping Group was founded in Shanghai to hold all the shares of Haixing Shipping's parent, Shanghai Shipping Group, along with the shares of Guangzhou Shipping Group and Dalian Shipping Group. On July 18, 1997, China Shipping agreed to acquire all the "legal person shares" (Chinese: 法人股; Chinese regulatory terminology) of Haixing Shipping from Shanghai Shipping Group. As a result, China Shipping Group became the controlling shareholder of Haixing Shipping. In December 1997, Haixing Shipping changed its name to China Shipping Development Co. Ltd.[1]

The main business focus of China Shipping Development was bulk cargo shipping, specifically oil shipping. In 2006, the company acquired 42 bulk carrier ships and became one of the largest oil shipping companies in the Far East. In 2007, the company ordered 16 VLOC ships to transport iron ore imports. In 2009, China Shipping Development acquired China Shipping LNG Investment Company Limited from China Shipping Group. Then, China Shipping Development along with MOL established joint ventures with Sinopec and PetroChina to transport LNG. The joint venture companies ordered a total of 10 LNG vessels in July 2011 and April 2013, of which 6 vessels are owned by China Shipping Development.[2][3][1]

In August 2012, China Shipping Development established a subsidiary, China Shipping Bulk Carrier Company Limited, to handle all its dry bulk business.[1]

In 2016, China Shipping Development's parent company, China Shipping Group, completed a merger with COSCO Group. As part of the merger China Shipping Development sold 100% equity interest of its subsidiary China Shipping Bulk Carrier Co. to the newly formed China COSCO Bulk Shipping Co. Meanwhile, China Shipping Development acquired 100% equity interest of tanker shipping company Dalian Ocean Shipping Co. from COSCO Group. As a result, China Shipping Development was renamed to COSCO SHIPPING Energy Transportation, and became focused solely on oil and LNG shipping.[4][1]

COSCO SHIPPING Energy became the world's largest oil tanker fleet, with 105 oil tanker ships totaling 17.04 million DWT.[5]

See also

[edit]

References

[edit]
  1. ^ a b c d e "COSCO SHIPPING Energy, About Us, History Review". Retrieved December 4, 2020.
  2. ^ "Sinopec, China Shipping, MOL JV Orders Six LNG Carriers". Offshore Energy. April 29, 2013. Retrieved December 4, 2020.
  3. ^ Wang, Jasmine; Guo, Aibing (March 20, 2013). "China Shipping Venture to Order Six LNG Ships for $1.2 Billion". Bloomberg. Retrieved December 4, 2020.
  4. ^ Hong Liang, Lee (June 6, 2016). "China Shipping Development proposes name change, appoints new chairman". Seatrade Maritime News. Retrieved December 4, 2020.
  5. ^ Lakshmi, Aiswarya (June 7, 2016). "COSCO Launches World's Largest Oil Tanker Fleet". MarineLink. Retrieved December 4, 2020.
[edit]
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